Telecom Italia tower unit could be worth up to $2.8 bln - banks
MILAN May 26 (Reuters) - Italian tower company Inwit is worth up to 2.6 billion euros ($2.8 billion), Mediobanca Securities and Banca IMI said in research notes published before the Telecom Italia unit launches its initial public offering next month.
Mediobanca and Banca IMI are global coordinators of the IPO, which will help Telecom Italia raise money to upgrade its networks and return its domestic business to growth.
Telecom Italia aims to sell up to 40 percent of the unit in the IPO. In the research notes, which were seen by Reuters, Mediobanca Securities valued Inwit at 2-2.6 billion euros, while Banca IMI at 2.1-2.4 billion euros.
Inwit operates 11,500 sites that host radio transmission equipment for the mobile phone networks of Telecom Italia and other operators. ($1 = 0.9162 euros) (Reporting by Elisa Anzolin; writing by Danilo Masoni; editing by Agnieszka Flak)
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